Current issue - Vol. 19, No. 1all articles


Azamat Aiazbekov
pages: 57-65; JEL classification: L83, O30, Z32; Keywords: blockchain technology, cryptocurrency, tourism, travel, government, regulations; Abstract: The purpose of this study is to look into the capability of cryptocurrencies as a viable alternative to traditional payment methods in the travel and tourism industry. Given the increasing popularity of digital currencies, the tourism industry must consider alternative payment methods. The study\'s goal is to determine whether cryptocurrencies can be a safe and practical payment option for the travel and tourism industry. The benefits and drawbacks of cryptocurrency adoption in the travel and tourism industry were examined using a case study method. The study focused on customer preferences, security, and regulatory compliance. In-depth research was conducted on a select group of companies that have already implemented cryptocurrency as a payment option, as well as on interviews of business leaders. According to the study\'s findings, there is a high demand for the adoption of cryptocurrencies in the travel and tourism sector. Customers seeking secure and convenient payment methods may benefit from the use of cryptocurrencies. The study emphasizes the importance of addressing security concerns and regulatory compliance, as these are significant barriers to cryptocurrency adoption in the travel industry. The study provides a road map for cryptocurrency adoption in the travel industry, recommending that the industry focus on developing secure and user-friendly cryptocurrency payment methods, as well as actively collaborate with regulatory bodies to ensure compliance. .